Asked by Jacob Andersen on May 08, 2024
Verified
A purchase order is a document the purchasing department sends to the vendor to place an order.
Purchase Order
A formal document sent from a buyer to a seller to initiate the purchase of products or services with specified terms.
Vendor
An individual or company that sells goods or services to another entity, typically within a supply chain.
- Understand procedural documents involved in purchasing and cash management processes.
Verified Answer
KB
kimberly boudreauxMay 09, 2024
Final Answer :
True
Explanation :
This statement is true. A purchase order is a formal document sent by the purchasing department to communicate to the vendor the details of the products or services that need to be purchased, including quantity, unit price, delivery date, and terms of payment.
Learning Objectives
- Understand procedural documents involved in purchasing and cash management processes.
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